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|---|---|---|---|---|---|
|Reference and administrative||details ofthe Charitable|Company,|its Trustees and||
|advisers||||||
|Trustees'
report|||||2-6|
|Independent
examiner's|report|||||
|Statement offinancial activities||||||
|Balance sheet|||||10-11|
|Statement ofcash flows|||||12|
|Notes to the financial statements|||||13-28|
|REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND|DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND|DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND|
|---|---|---|---|---|---|
||||||ADVISERS|
|||FOR THE YEAR ENDED 31 MARCH 2021||||
|Trustees||Mrs Omotunde||D Adeola (resigned 17November 2021)||
|||Pastor Adeseye||Atunrase||
|||Mr Adejumo S||Bakare||
|||Pastor Chuka|Nwafor,||Chief Executive|
|||Mrs Christians||Ekaete|Olaoye|
|Company|registered|||||
|number||6794767||||
|Charity registered||||||
|number||1137881||||
|Registered|office|Rear of31-33High Road||||
|||Chadwell
Heath||||
|||Romford||||
|||Essex||||
|||RM6 6QJ||||
|Chief executive officer||Pastor Chuka|Nwafor|||
|Accountants||Stephen
Michael Associates||||
|||Chartered
Certfied Accountants||||
|||1st Floor||||
|||3 More London||Riverside||
|||London||||
|||SE12RE||||
|Bankers||Barclays Bank||Pic||
|||1 - 2 Trinity Way||||
|||Chingford||||
|||London||||
|||E4 8TD||||
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|||||Restricted|Unrestricted|Total|Tota)|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
||||Note||6|||
|Income from:||||||||
|Donations
and|legacies|||157,420|1,453|158,873|5,169|
|Charitable
activities|||||432,146|432,146|719,668|
|Investments|||||15|15|215|
|Total income||||157,420|433,614|591,034|725,052|
|Expenditure
on:||||||||
|Charitable
activities|||6|157,420|408,590|566,010|763,340|
|Total expenditure||||157,420|408,590|566,010|763,340|
|Net movement|in funds||||25,024|25,024|(38,288)|
|Reconciliation|offunds:|||||||
|Total funds
brought||forward||673|(18,358)|(17,685)|20,603|
|Net movement|in funds||||25,024|25,024|(38,288)|
|Total funds carried forward||||673|6,666|7,339|(17,685)|
##
||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note|||||
|Fixed assets||||||||
|Tangible assets|||||18,487||4,137|
||||||18,487||4,137|
|Current assets||||||||
|Debtors|||12|37,223||36,910||
|Cash at bank and|in hand|||20,034||37105||
|||||57,257||74,015||
|Creditors: amounts|falling due within one|||||||
|year|||13|(58,981)||(95,837)||
|Net current liabilities|||||(1,724)||(21,822)|
|Total assets less|current liabilities||||16,763||(17,685)|
|Creditors: amounts|falling due after. more|||||||
|than one year|||14||(9,424)|||
|Net assets Iliabilites excluding||pension||||||
|asset|||||7,339||(17,685)|
|Total net assets|||||7,339||(17,685)|
|Charity funds||||||||
|Restricted funds|||16||673||673|
|Unrestncted
funds|||16||6,666||(18,358)|
|Total funds|||||7,339||(17,585)|
#
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|||||2021|2020|
|---|---|---|---|---|---|
|||||6||
|Cash flows from operating|activities|||||
|Net cash used
in operating|activities|||(5,563)|29,782|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed assets||||(20,932)||
|Net cash (used in)/provided|by investing||activities|(20,932)||
|Cash flows from financing|activities|||||
|Cash inflows from new borrowing||||9,424||
|Net cash provided
by financing
activities||||9,424||
|Change
in cash and cash|equivalents|in|the year|(17,071)|29,782|
|Cash and cash equivalents|at the beginning||ofthe year|37,105|7,323|
|Cash and cash equivalents|at the end|of|the year|20,034|37,105|
|The notes on pages
I3to 28 form part ofthese financial statements||||||
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|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2021|
|||F|||
|Donations|||1,453|1,453|
|Government|grants|157,420||157,420|
|||157,420|1,453|158,873|
||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2020|2020|
||Donations||||5,169|5,169|
|4.|Income from charitable|activities|||||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2021|2021|
||||||5|F|
||Income from charitable|activities - Children|education|services|432,146|432,148|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2020|2020|
||Income from charitable|activities - Children|education|services|719,668|719,668|
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|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
|||||F|5|
|Investment|income|- local cash||15|15|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2020f|2020|
|Investment|income|—local investment|properties|215|215|
|Restricted|Unrestricted|Total|
|---|---|---|
|funds|funds|funds|
|2021|2021|2021|
|F|6||
|157,420|408,590|566,010|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
||F||
||763,340|763,340|
##
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||||||Activities|||
|---|---|---|---|---|---|---|---|
||||||undertakerr|Support|Total|
||||||directly|costs|funds|
||||||2021
f.|2021f|2021
f.|
|Children|education|||services|484,709|81,301|566,010|
||||||Activiti es|||
||||||undertaken|Support|Total|
||||||directly|costs|funds|
||||||2020|2020f|2020f|
|Children|education|||services|668,802|94,538|763,340|
|Analysis|of|direct||costs||||
|||||||Children||
|||||||education|Total|
|||||||services|funds|
|||||||2021|2021f|
|Staff costs||||||378,588|378,588|
|Nursery|and|pre-school expenses||||23,186|23,185|
|Premises|costs|||||73,477|7,3,477|
|Communication|||costs|||4,302|4,302|
|Professional||fees||||5,156|5,156|
|||||||484,709|484,709|
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|Analysis of|dire|ct costs (continued)|||
|---|---|---|---|---|
||||Children||
||||education|Total|
||||services|funds|
||||2020|2020f|
|Staff costs|||508,621|508,621|
|Nursery
and|pre-school expenses||33,489|33,489|
|Premises costs|||105,300|105,300|
|Communication||costs|4,453|4,453|
|Professional|fees||16,939|16,939|
||||668,802|668,802|
|Analysis of|support costs||||
||||Children||
||||education|Total|
||||services|funds|
||||2021|2021|
||||F|6|
|Staff costs|||29,484|29,484|
|Depreciation|||6,582|6,582|
|Nursery
and|pre-school expenses||8,591|8,591|
|Rent|||7,975|7„975|
|Communication||costs|771|771|
|Office expenses|||7,559|7,559|
|Professional|fees||878|878|
|Premises expenses|||9,465|9,465|
|Donation|||6,550|6,550|
|Dues 8 Subscription|||146|146|
|Governance|costs||3,300|3,300|
||||81,301|81,301|
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|Analysis ofsup|port costs (continued)|||
|---|---|---|---|
|||Children||
|||education|Total|
|||services|funds|
|||2020f|2020|
|Staff costs||39,474|39,474|
|Depreciation||2,163|2,163|
|Nursery
and pre-school expenses||8,660|8,660|
|Premises costs||11,700|11,700|
|Communication|costs|5,198|5,198|
|Office expenses||4,071|4,071|
|Professional fees||1,298|1,298|
|Promotion
and|publicity|9,619|9,619|
|Donation||7,776|7,776|
|Dues &Subscription||1,279|1,279|
|Governance costs||3,300|3,300|
|||94,538|94,538|
##
||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
||Fees payable to the Charitable||||Company's||independent|examiner for the|||
||independent|examination||ofthe|Charitable||Company's|annual accounts|3,300|3,300|
|9.|Staff costs||||||||||
||||||||||2021|2020|
||Wages and|salaries|||||||393,259|5'/3,997|
||Social security costs||||||||9,971|27,276|
||Contribution|to defined|contribution|||pension|schemes||4,842|6,822|
||||||||||408,072|548,095|
##
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||2021|2020|
|---|---|---|
||No.|No.|
|Management|3||
|Staff|35||
||38||
##
|other capacity.|
The value ofTruste|,
es'
remuneration
and other benefits|py
was as follows:|any|
|---|---|---|---|---|
||||2021|2020|
||||5||
|Pastor Chuka|Nwafor|Remuneration|21,689|23,040|
|Mrs Omotunde|D Adeola|Remuneration|17,379|13,297|
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||Plant and|Motor|Office||
|---|---|---|---|---|
||machinery
f.|vehicles
f.|equipment
f|Total|
|Cost or valuation|||||
|At 1 April 2020|9,278|4,105|8,609|21,992|
|Additions|1,743|18,050|1,139|20,932|
|At 31 March 2021|11,021|22,155|9,748|42,924|
|Depreciation|||||
|At 1 April 2020|6,115|3i131|8,609|17,855|
|Charge for the year|1,653|4,758|171|6,582|
|At 31 March 2021|7,768|7,889|8,780|24,437|
|Net book value|||||
|At 31 March 2021|3,253|14,266|968|18,487|
|At 31March 2020|3,163|974||4,137|
##
||2021|2020|
|---|---|---|
|Due within one year|||
|Trade debtors|28,060|26,710|
|Other debtors|9,163|10,200|
||37,223|36,910|
##
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##
|||||||2021
f.|2020f|
|---|---|---|---|---|---|---|---|
||Trade creditors||||||796|
||Other taxation
and social security||||||6,421|
||Obligations
under finance lease and hire purchase|||contracts||2,630||
||Pension
fund loan payable|||||954||
||Other creditors|||||38,531|85,320|
||Accruals and deferred|income||||16,843|3,300|
|||||||5&,981|95,837|
|14.|Creditors: Amounts|falling due after more than||one|year|||
|||||||2021f|2020|
||Net obligations
under|finance lease and hire purchase|||contracts|9,424||
|15.|Financial
instruments|||||||
|||||||2021
f.|2020f|
||Financial assets|||||||
||Financial assets measured
at fair value through||income and expenditure|||20,034|37,105|
##
##
|Statement||effunds - current year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||||Balance at 1|||31 March|
||||April 2020|Income|Expenditure|2021|
|||||8|5||
|Unrestricted||funds|||||
|General Funds - all funds|||(18,358)|433,614|(408,590)|6,666|
|Restricted||funds|||||
|Restricted|Funds - ell funds||673||||
|Coronavirus||Job Retention Scheme||157,420|(157,420)||
||||673|157,420|(157,420)|673|
|Total offunds|||(17,685)|591,034|(566,010)|7,339|
##
##
|Summary|offunds - current year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at 1|||31 March|
|||April 2020f|Income
f|Expenditure
f|2021f|
|General funds||(1&,36&}|433,614|(40&,690)|6,666|
|Restricted|funds|673|157,420|(157,420)|673|
|||(17,685)|591,034|(666,010)|7,339|
|Summary|offunds - prior year|||||
||||||Balance at|
|||Balance at|||31 March|
|||1April 2019|income|Expenditure|2020f|
|General funds||19,930|725,052|(763,340)|(18,358)|
|Restricted|funds|673||||
|||20,603|725,052|(763,340)|(17,585)|
##
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|Analysis|ofnet assets between funds - current|year|||
|---|---|---|---|---|
|||Restricted|Unrestricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
||||6||
|Tangible|fixed assets||18,487|18,487|
|Debtors|due after more than one year|673|(673)||
|Current|assets||57,257|57,257|
|Creditors|due within one year||(58,981)|(58,981)|
|Creditors|due in more than one year||(9,424)|(9,424)|
|Total||673|6,666|7,339|
|Analysis|of n|et assets between funds - prior|year|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2020|2020|2020|
||||Z||5|
|Tangible|fixed|assets||4,137|4,137|
|Current|assets||673|73,342|74,015|
|Creditors|due|within one year||(95,837)|(95,837)|
|Total|||673|(16,358)|(17,685)|
##
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|19.|Reconciliation
of|net|net|movement|movement|movement|in funds|in funds|to|net|cash flow|from operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2021|2020|
||||||||||||||F||
||Net
income/expenditure||||for|the|year|(as||per|Statement|of Financial|||
||Activities)||||||||||||25,024|(38,288)|
||Adjustments
for:||||||||||||||
||Depreciation
charges||||||||||||6,582|2,163|
||Increase
in debtors||||||||||||(313)|(2,512)|
||Increase/(decrease)||in|creditors|||||||||(36,856)|68,419|
||Net cash provided|by/(used||||in)|operating||activities||||(5,563)|29,782|
|20.|Analysis ofcash|and||cash equivalents|||||||||||
||||||||||||||2021|2020|
||||||||||||||F||
||Cash
in hand||||||||||||20,034|37,105|
||Total cash and cash|||equivalents|||||||||20,034|37,105|
|21.|Analysis ofchanges|||in|net|debt|||||||||
|||||||||||||At 1 April||At 31 March|
|||||||||||||2020|Cash flows|2021|
||||||||||||||F|6|
|||||||||||||F|||
||Cash at bank and|in|hand|||||||||37,105|(17,071)|20,034|
||Debt due within
1 year||||||||||||(954)|(954)|
||Finance leases||||||||||||(12,054)|(12,054)|
|||||||||||||37,105|(30,079)|7,026|
##
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|||||2021|2020|
|---|---|---|---|---|---|
|||||8||
|Amount
owed to RCCG International|Christian|Centre|—in Other creditors|||
|(Note 13)||||18,&67|66,813|
|Rent payable to RCCG International|Christian|Centre||84,000|117,000|